Dimensional Fund Advisors LP Acquires 34,088 Shares of Ciena Corporation (CIEN)

Dimensional Fund Advisors LP lifted its holdings in Ciena Corporation (NYSE:CIEN) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,821,175 shares of the communications equipment provider’s stock after acquiring an additional 34,088 shares during the period. Dimensional Fund Advisors LP owned approximately 1.99% of Ciena Corporation worth $70,588,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Ciena Corporation by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,690 shares of the communications equipment provider’s stock worth $518,000 after acquiring an additional 58 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of Ciena Corporation by 1.3% in the second quarter. Capstone Asset Management Co. now owns 10,490 shares of the communications equipment provider’s stock worth $262,000 after acquiring an additional 130 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Ciena Corporation by 1.9% in the second quarter. Nisa Investment Advisors LLC now owns 10,740 shares of the communications equipment provider’s stock worth $269,000 after acquiring an additional 200 shares in the last quarter. World Asset Management Inc grew its holdings in Ciena Corporation by 2.8% during the 2nd quarter. World Asset Management Inc now owns 8,935 shares of the communications equipment provider’s stock valued at $224,000 after purchasing an additional 243 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in Ciena Corporation by 2.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 11,289 shares of the communications equipment provider’s stock valued at $282,000 after purchasing an additional 300 shares in the last quarter.

A number of equities research analysts recently weighed in on CIEN shares. TheStreet raised shares of Ciena Corporation from a “c+” rating to a “b” rating in a report on Monday, June 19th. Northland Securities reaffirmed a “buy” rating and set a $32.00 price target on shares of Ciena Corporation in a report on Tuesday, July 4th. ValuEngine raised shares of Ciena Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 price target on shares of Ciena Corporation in a report on Friday, July 21st. Finally, BidaskClub lowered shares of Ciena Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $29.53.

In other news, SVP James E. Moylan, Jr. sold 2,000 shares of the business’s stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $26.20, for a total value of $52,400.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Andrew C. Petrik sold 1,258 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $24.44, for a total transaction of $30,745.52. The disclosure for this sale can be found here. Insiders sold a total of 88,310 shares of company stock worth $2,047,414 in the last three months. Insiders own 1.45% of the company’s stock.

Ciena Corporation (NYSE:CIEN) opened at 21.74 on Wednesday. The stock has a 50 day moving average of $22.27 and a 200-day moving average of $23.84. Ciena Corporation has a 52-week low of $18.94 and a 52-week high of $27.98. The company has a market capitalization of $3.10 billion, a P/E ratio of 23.79 and a beta of 1.69.

Ciena Corporation (NYSE:CIEN) last announced its quarterly earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The firm had revenue of $728.70 million for the quarter, compared to analyst estimates of $726.81 million. Ciena Corporation had a net margin of 4.99% and a return on equity of 25.53%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. On average, equities analysts forecast that Ciena Corporation will post $1.74 earnings per share for the current year.

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About Ciena Corporation

Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.

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Institutional Ownership by Quarter for Ciena Corporation (NYSE:CIEN)

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